ITD meaning in Business ?

Answer: What is Income Tax Department mean?

The Income Tax Department (also referred to as IT Department or ITD) is a government agency undertaking direct tax collection of the Government of India. It functions under the Department of Revenue of the Ministry of Finance. Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT). Main responsibility of IT Department is to enforce various direct tax laws, most important among these being the Income-tax Act, 1961, to collect revenue for Government of India. It also enforces other economic laws like the Benami Transactions (Prohibition) Act, 1988 and the Black Money Act, 2015.

The Income Tax Act, 1961 has wide scope and empowers ITD to levy tax on income of individuals, firms, companies, local authorities, societies, or other artificial juridical persons. Therefore, Income Tax Department influences businesses, professionals, NGOs, income earning citizens, and local authorities among others. The Act empowers Income Tax Department to tax international businesses and professionals and therefore ITD deals in all matters of Double Taxation Avoidance Agreements and various other aspects of international taxation such as Transfer pricing. Combating tax evasion and tax avoidance practices is key duty of ITD to ensure constitutionally guided political economy. One measure to combat aggressive tax avoidance is General Anti Avoidance Rules (GAAR).

reference

Full Form	Category
Interior Technical Design	Academic & Science
International Trade Documentation	Business
Innovation, Technology, and Design	Business
ITL, LTD.	Business
Income Tax Department	Business
Italian Thai Development	Community
International Talent Development	Community
itiative Transportation and Development	Community
Institute of Technology and Development	Community
Interface Telecom Domotique	Computer and Networking
Initial Time Delay	Computer Hardware
In Too Deep	Computing
Imaging Technology Development	Computing
Integrated Technology Delivery	Computing
Interaural Time Delay	Computing
Information et Transmission de Donnees	Computing
it Developer	Computing
Innovative Technology Deployment	Computing
Information Technology Department	Computing
Impact Texas Drivers	Computing
Impedance Threshold Device	Electronics
Isothermal Desorption Spectrometry	Electronics
I Tak Dalej	General
Intelligent Traffic Director	General
Internal Tandem Duplication	General
I Tako Dalje	General
Instituto Tecnológico de Durango	General
Interaural Time Difference	General
Ischia Thermal District	General
Infantry Training Depot	General
Inter Type Declarations	General
Infiniti Torque Demand	General
Iveco Turbo Daily	General
Idaho Transportation Department	General
Impact Texas Driver	General
Impact Teen Drivers	General
Independent Truck Driver	General
Internal Tube Damper	General
Improvised Timeout Device	General
Independent Tire Dealers	General
Intralobular Terminal Duct	General
Intelligent Targeting Device	General
Image Text Demo	General
Ibrahim Time Domain	General
In The Dark	General
Information Technology Division	Governmental
Institute of Training and Development	Governmental
Idaho Transportation Department's	Governmental
Institute for Transmedia Design	Governmental
International To Domestic	International
Internet Telephone Data	Internet
Intra-type differentiation	Medical
Interim Terrain Data	Military and Defence
Inception To Date	Military and Defence
Inlet Temperature Difference	Physics Related
Inspirational Throw Down	Sports
Instructional Technology Department	Technology